HDFC AMC launches two FMPs on June 10

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HDFC AMC launches two FMPs
HDFC AMC will launch two FMPs on 10th June 2011 i.e. HDFC FMP 92D June 2011 (2) and HDFC FMP 370D June 2011 (2) under HDFC Fixed Maturity Plans - Series XVIII. These are close-ended income schemes especially designed for Fixed Income Group, people with short horizon.

The NFO opens on June 10, 2011 and closes on June 15, 2011.

The units of the scheme will be listed on the National Stock Exchange (NSE)

The minimum application amount is Rs 5,000 and after that additional investment can be made of Rupee 1.

The investors will be provided with the two options: Growth and Dividend. Dividend option offers the facility of dividend payout. Investor needs to choose any of the option while investing, if he is not specifying the same at the time of investing, it will be implied that investor has opted for Growth option.

Investment objective and performance:
Both the schemes will generate income by investing in Debt/Money market instruments and Government Securities with the same tenure i.e. the instruments maturing on or before the maturity date of the respective scheme.

Asset Allocation:
The fund will allot 60%-100% in Debt and Money Market Instruments and 0%-40% in Government Securities.

Fund Manager:
Mr. Bharat Pareek will be the Fund Manager of this scheme.

Bharat has overall experience of 8 years in treasury operations and dealing in debt market.

HDFC Cash Management Fund - Call Fund, HDFC Quarterly Interval Fund Plan A, Plan B and Plan C, HDFC Fixed Maturity Plans- Series VIII, HDFC FMP 90 D May 2008(1), HDFC FMP 90 D May 2008(2) and HDFC FMP 90 D May 2008(3) are some of the schemes managed by him.

Basic Details:

NFO Opens: June 10, 2011
NFO Closes: June 15, 2011
NFO Price: Rs.10 per unit
Listing: National Stock Exchange
Options: Dividend and Growth
Minimum Application Amount: Rs 5,000 per application and additional Re. 1, thereafter
Exit Load: Nil
Fund Manager: Mr. Bharat Pareek

OneIndia Money

Read more about: fmp, nfo, hdfc, investment
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